Ocado sets 2028 succession plan for Tim Steiner after board clash
Ocado is keeping founder and chief executive Tim Steiner in place until the 2028 financial year as the online grocery technology group works through a leadership transition. The plan follows a boardroom dispute over Steiner's future that instead triggered calls from investors for chair Adam Warby to step down.
Highlights
- Ocado will complete CEO Tim Steiner’s succession planning in the 2028 financial year, after which Steiner will move to an advisory founder role.
- Long-term investors continue backing Steiner following a June attempt by chair Adam Warby and Jörn Rausing to remove him amid a 90% six-year share price decline.
- Kroger will close three Ocado-powered U.S. facilities in 2025 due to disappointing financial performance, highlighting international operational pressures.
Succession timeline after board dispute
As reported by Financial Times, Ocado says it expects to complete succession planning during its 2028 financial year, which begins in December 2027. After a successor is appointed, Steiner is due to move into an advisory founder role, which the company says reflects his long involvement and perspective on the business.Ocado says the board and Steiner have been engaged in a thoughtful and collaborative succession process. The statement comes after a Sunday evening board meeting held to discuss Steiner's future at the company he co-founded in 2000.
Investor backing and operating pressure
Steiner has led Ocado for more than 25 years and has been central to the development of its technology platform and international licensing strategy. Long-term investors argue he remains the best person to guide the business and win new technology licensing agreements.That support follows a reported attempt in late June by chair Adam Warby and board member and shareholder Jörn Rausing to remove Steiner after a steep fall in the share price. Ocado's stock has dropped about 90% over the past six years as the pandemic-era surge in online shopping fades and some international clients scale back their agreements.
Pressure on the model also remains visible in the U.S. market. Grocery retailer Kroger announced in 2025 that it plans to close three Ocado-powered facilities because of disappointing financial performance.
Tesco’s £750 million share buyback programme was previously highlighted in our coverage as a key support for the stock, even as TSCO/GBX remained under broader selling pressure. The analysis noted mixed technical signals and a likely sideways trading range unless shares could break decisively above nearby resistance levels.
Latest Kroger Company News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
